Differences

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--- australia_securities_exchange [2024/04/19 10:40] – hammed
+++ australia_securities_exchange [2025/06/23 14:00] (current) – [Auction Mechanisms] hugo
@@ Line 37: / Line 37: @@
 === Open ===
-The opening auction procedure begins at 10:00 AM and lasts for about 10 minutes. Opening prices are calculated during this phase. Securities open in five groups, according to the starting letter of their ASX code:
+To enable the orderly consumption of the burst of messages during the single opening auction, effective June 23, 2025 the ASX introduced a new session state call 'Opening Single Price Auction' (OSPA). The OSPA will be rendomised, followed by the introduction of a levelling or buffering period before transitioning to continuous trading. A summary of OSPA features is listed below:
+  * The auction and transition to OSPA state occurs during a 15 second randomised window beginning at 09:59:00
+  * New orders and order amendments will be rejected during OSPA. Any attempts to enter new orders or amend existing orders will be rejected.
+  * Cancellation of orders during OSPA is permitted
+  * Report of Off Market Trades is permitted
+  * Transition from OSPA to Open (continuous matching) occurs during a 15 second randomised window
+  * Minimum duration of OSPA is 30 seconds with a maximum of 60 seconds (dependent on randomisation)
+For more information please review [[https://www.asx.com.au/markets/market-resources/trading-hours-calendar/cash-market-trading-hours | ASX Trading Hours]]
-  * Group 1  10:00:00 am +/- 15 secs 0-9 and A-B, e.g. ANZ, BHP
-  * Group 2  10:02:15 am +/- 15 secs C-F, e.g. CPU, FXJ
-  * Group 3  10:04:30 am +/- 15 secs G-M, e.g. GPT
-  * Group 4  10:06:45 am +/- 15 secs N-R, e.g. QAN
-  * Group 5  10:09:00 am +/- 15 secs S-Z, e.g. TLS
 === Close ===